KUALA LUMPUR: Kanger International Bhd’s shares were among the most actively traded stocks on Bursa Malaysia in early trade Wednesday.

       The counter rose 6.67%, or 0.5 sen to eight sen. It is currently the third most actively traded counter with 31.7 million shares traded.

       Kanger’s unit has entered a deal for the purchase of five million doses of Sinopharm Covid-19 vaccines for distribution in Malaysia.

       The heads of agreement (HoA) was entered between its wholly-owned subsidiary Kanger Medical International Sdn Bhd and Sparmak Medical Equipment Trading LLC.

       Under the HoA, Kanger aims to purchase five million vaccine doses with deliveries commencing as early as July 2021.

       The HoA also provides Kanger an option to subsequently purchase an additional five million vaccine doses.

       Barring any unforeseen circumstances, the HoA is expected to contribute positively to the earnings and earnings per share of the group for the financial year ending March 31, 2022 (FY22).